© Dukascopy Bank SA
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- RBS (based on Reuters)
Industry outlook
EUR/USD remained resilient yesterday after the European Central Bank kept its interest benchmark unchanged. However, the risk for the pair remains on the downside as the pair has not breached the 1.3230/1.3245 zone (55-day MA and upper Bollinger band). Therefore, the pair could test the 1.3100 support level today if the bearish mood persists further.
Traders' sentiment
The share of buy orders (46.99%) on EUR/USD is outnumbered by the amount of sell orders (53.01%), making traders' sentiment bearish for the pair.
Long position opened
Bullish investors should pay attention to the key resistance levels for intraday trading. R1 is situated at 1.3189 followed by R2 and R3 at 1.3228 and 1.3275, respectively.
Short position opened
The immediate support line is at 1.3103. Should the price step even lower, it will encounter subsequent levels at 1.3056 and 1.3017, where recovery might start.
© Dukascopy Bank SA